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Auto Insurance Claims/DIMINISHED VALUE IN ATLANTA

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Expert: - 8/26/2010


Question
Hi Richard,
Can you please advise what "formula" is used by car insurers in Georgia to calculate diminished value? I understand that this formula is not sanctioned by the State of Georgia, but is widely used here to justify payouts. Also, do you have a formula of your own that is more realistic?
Thanks you,
Don C.
Atlanta

Answer
Hi Don,

Sorry for the slow response. I tried to reply to you several times but the ALLExperts website would not let my response go through.

The formula is called the 17C formula. You should juest ignore it. It is always wrong. It is simply an attempt by the insurance companies to short change people.

To learn more about diminished value in Georgia and how to receive reasonable compensatin, visit www.collisionclaims.com .

I hope this helps
Richard Hixenbaugh

Auto Insurance Claims

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Richard Hixenbaugh

Expertise

Auto insurance claims procedure, auto coverage, liability issues, auto damage questions, how to deal with the insurance company, loss of use and diminished value.

Experience

I have been involved in the insurance industry for over 25 years. I have experience in underwriting, sales, claims adjusting, auto damage estimating, auto value appraising and diminished value appraising. I have testified as an expert witness over 35 times.

Organizations
Society of Certified Auto Appraisers

Education/Credentials
Completed all required courses for the Florida Property-Casualty agents license and the Florida claims adjusters license. I have attended various courses on auto damage estmating, vehicle appraising and am ASE certified in collision damage analysis.

Past/Present Clients
My company has done work for consumers nationwide.

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